Skylands Capital LLC Sells 3,250 Shares of SBA Communications Co. (NASDAQ:SBAC)

Skylands Capital LLC reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,250 shares of the technology company’s stock after selling 3,250 shares during the quarter. Skylands Capital LLC’s holdings in SBA Communications were worth $3,108,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBAC. Emerald Advisers LLC acquired a new position in SBA Communications during the 3rd quarter worth $31,000. CVA Family Office LLC bought a new position in SBA Communications during the fourth quarter worth about $37,000. Pinnacle Bancorp Inc. lifted its holdings in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications during the 4th quarter worth about $43,000. Institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $4.16 during midday trading on Monday, hitting $200.39. 331,157 shares of the company traded hands, compared to its average volume of 975,504. The firm’s fifty day moving average price is $210.01 and its 200-day moving average price is $222.85. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.11 earnings per share. Equities research analysts forecast that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets cut their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Barclays decreased their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $268.00.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.